How low will it go?

A small dump is upon us. Base price for about 12 mainland listings is L$8.7 this morning. The next group of land for sale is at L$9.0. Good day to watch things to see which direction the market heads as none of the 16 auctions closing today have been bid higher than US$1251 at this time.

Is the next significant correction finally happening?

Also of note: one particular land dealer bought nine of the sims yesterday for over $2100. His first sim to market is listed at L9.0 a meter and it's not selling. He may be pooping a bit in his pants today.

It is the good old law of supply and demand. If the Lindens make a lot of land available for sale and that the market is far from saturated with customers, prices per square meter are bound to stay down. Once land is heavily owned, and available parcels are harder to find, prices will go up.

Very strange auction action in the last two days
I've seen a baron buy two Corsica sims at auction for approx. US$2400 and 2500
Then he put them straight back on the market as entire sims for the L$ equivalent of US$400 more.
The people bidding against him in the action were beaten by US$1 - as apears to be the norm in the admittedly few I've been looking at.

Who the hell would buy a sim for US$400 more than they could have got it at auction 2 days earlier?????
A Land Boron? (sic)

Hmmm. The L$8.7s are just sitting there. Not a good sign for sellers. And some of the land up for auction today is hilly and has no waterfront making it less desirable with another slew of sims closing at auction tomorrow. If it wasn't for the painfully high monthly tier, I would buy a sim today.

From the look of the land auctions it looks like the price may take a significant drop. A month or two ago there were usually only 10-12 complete sims for sale at one time. Now there are about 3 times that. People cashing out and leaving SL most likely.
Question is, how low will it go. Is buying now a good investment, or will the land become worthless as more landowners dump SL?

It won't become worthless, but it's certainly a gamble if only because getting stuck with high tier really sucks.

Hmmm... I wonder how much of it is cashing out, vs attempted flipping. (I'm only guessing that quite a lot may be flipping, just based on the rate at which freshly-minted sims have been hitting the market recently.) An interesting statistic to track, if one could figure out how to collect it, might be the average age of land for sale (not the length of time it's been for sale--which would be interesting for different reasons--but rather the age of the sim hosting the parcel). Or maybe that's a standard measure already, for all I know.

i wish i was independently wealthy......

I picked up Yokoatijima for $9 per last night. Well my partner and I did for the company. Has a good feeling, just a touch of water and I think I'll do another full sim fantasy forest. Make a nice waterfall at the top and run a river down through it. Bunch of my big treehouses on 8192's. Keep one aside for a public park down by the beach. I think it's a good time to invest in long term ownership but not really for flipping. I just love to build cool looking sims and I figure every one I get means a few less ad farms lol.

May get another next week if the prices stay this low. Not a good time to flip but a good time to invest in the long term. Which is great for me =)

i wish i was wealthy like Lord. *laffing*

Wow. An end user. You, sir, are a rare breed.

do you guys get to check out a sim inworld before bidding? or is it a blind auction?

You can see it before placing a bid.

Visit the auction page: http://secondlife.com/auctions/

..click an auction..follow the SLURL.

I vaguely remember reading somewhere that LL is trying to get land prices to 6-8 per square meter...

Anyone who doesn't check is not too bright. Especially with hills and no waterfront making some less valuable.

Prices are picking up a bit this afternoon, pre-new sim release with a base of around L$9.0 right now.

IMO: L$7 or lower? .....certainly... before the end of the year..

Maybe as long as Barons keep buying it they will keep offering it.

LOL I wish I was as wealthy as my partner! I do the work, she pays the bills. Works well for us as she doesn't have much time to spend on-line and I have nothing but time.
Not much call for retired sword swallowers in RL. I've been building in Active worlds for years but SL with all it's drawbacks and issues is much better, IMHO.

And yes, you get to explore the new sims before you bid. This is essential, especially to me. I usually have a theme in mind before I go shopping and find a sim that matches it.

I have my eye on a corisca sim next to Beech. It's got waterfront and a cool small mountain plus flat land all on one sim. I'll send you a landmark inworld. It has not come to auction yet. Wish I could buy it myself, but my wife would stab me with a sword if I added $295 to our monthly budget for some unreliable server space.

I'm not in the land business but I thought the mainland sims tier was $195 per month while the private islands were $295?

whoops. thanks for the correction. the last time I was considering it, I was thinking about getting an island. You are correct.

What happens if you get an Island that only allows 2000 Prims for the Sim?

??? All private Islands are the same size and allow 15,000 prims.

Congrats to JB who won 20, yes 20 auctions over the last 36 hours. Whatcha gonna do with all that land (and tier) in this slumping market with more sims on the way? Gonna buy a bunch more tomorrow? You got cajones, good sir (or deep pockets).

Unless you are buying/renting from someone who actually offering "open-space" sims.

I had understood that open-space sims had 1/4 of normal prims and resources. However I saw something on sale/rent recently where the prims didn't seem to add up that way.

I wonder if it possible to assign prim resources over the four open-space sims unevenly?